ASPM Limited, a subsidiary of OVH Energy Limited, has launched its Lagos Midstream Jetty (LMJ) located at the Lagos Apapa Harbour, Daily Trust reports.
The Lagos Midstream Jetty is West Africa’s first privately owned mid-stream jetty, conceived by Oando PLC to increase the delivery capacity and offloading efficiency of petroleum products into marketers’ storage facilities in Apapa Lagos.
The jetty is expected to alleviate the perennial infrastructural hiccups experienced in Apapa, eliminating the lighterage and demurrage charges currently being incurred by petroleum marketers by NGN8.3 billion ($23m) and NGN9.8 billion ($27m) respectively.
Additionally, the jetty will reduce discharge time from 21 to three days, thereby increasing product availability. This will also result in significant cost savings on lightering and generate economies of scale advantages for marketers.